The electrical wiring in a house is defective. The broker who listed the house is aware of this and intentionally deceives a potential buyer about it. The buyer purchases the home and later suffers a financial loss due to the faulty wiring. This is an example of

A) mistake of law
B) fraud
C) mistake of fact
D) statue of fraud

Answer: B) fraud

Business

You might also like to view...

Like for-profit entities, not-for-profits must develop ________ which produce positive financial results for the organization.

A. competitive advantage B. substitutes C. opportunities D. operational tactics E. strategies and tactics

Business

An insurance firm agrees to pay you $3,310 at the end of 20 years if you pay a premium of $100 per year at the end of each year of the 20 years. Find the internal rate of return to the nearest whole percentage point

A) 9% B) 7% C) 5% D) 3% E) 11%

Business